Universal Beteiligungs und Servicegesellschaft mbH Grows Stock Position in SPX Technologies, Inc. $SPXC

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in SPX Technologies, Inc. (NYSE:SPXC) by 93.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,785 shares of the company’s stock after buying an additional 24,537 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in SPX Technologies were worth $9,486,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in SPX Technologies by 22.3% in the second quarter. Invesco Ltd. now owns 1,157,177 shares of the company’s stock worth $194,035,000 after acquiring an additional 210,682 shares during the period. Geode Capital Management LLC raised its holdings in SPX Technologies by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,086,522 shares of the company’s stock worth $182,211,000 after purchasing an additional 17,735 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in SPX Technologies by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 650,803 shares of the company’s stock worth $109,127,000 after purchasing an additional 14,941 shares during the period. Norges Bank purchased a new position in SPX Technologies during the second quarter valued at $97,223,000. Finally, Geneva Capital Management LLC grew its holdings in SPX Technologies by 5.9% during the second quarter. Geneva Capital Management LLC now owns 472,748 shares of the company’s stock valued at $79,270,000 after purchasing an additional 26,201 shares during the period. 92.82% of the stock is currently owned by institutional investors.

SPX Technologies Trading Down 2.9%

SPX Technologies stock opened at $210.74 on Friday. SPX Technologies, Inc. has a 1 year low of $115.00 and a 1 year high of $233.71. The firm’s 50 day moving average price is $210.19 and its 200-day moving average price is $197.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.47 and a quick ratio of 1.70. The stock has a market cap of $10.50 billion, a P/E ratio of 45.13, a PEG ratio of 1.76 and a beta of 1.33.

SPX Technologies (NYSE:SPXC) last posted its earnings results on Thursday, October 30th. The company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.24. The company had revenue of $592.80 million during the quarter, compared to analysts’ expectations of $574.32 million. SPX Technologies had a net margin of 10.33% and a return on equity of 18.68%. SPX Technologies’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the company posted $1.39 earnings per share. SPX Technologies has set its FY 2025 guidance at 6.650-6.800 EPS. On average, equities analysts predict that SPX Technologies, Inc. will post 5.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on SPXC. B. Riley reaffirmed a “buy” rating and issued a $244.00 price objective (up previously from $225.00) on shares of SPX Technologies in a research note on Wednesday, December 10th. Truist Financial raised their target price on shares of SPX Technologies from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. TD Cowen restated a “hold” rating on shares of SPX Technologies in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SPX Technologies in a report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $214.14.

Insider Transactions at SPX Technologies

In other news, insider J Randall Data sold 12,000 shares of SPX Technologies stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $215.37, for a total value of $2,584,440.00. Following the sale, the insider directly owned 38,020 shares of the company’s stock, valued at approximately $8,188,367.40. The trade was a 23.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John William Swann III sold 38,755 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $206.07, for a total value of $7,986,242.85. Following the completion of the sale, the insider owned 64,266 shares in the company, valued at $13,243,294.62. This represents a 37.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.32% of the company’s stock.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.